Statue of Limitation - Florida
Date: Thu, 01/04/2007 - 19:40
“Negative info will be removed after 7 years from the date of opening of this account. You can pay the whole debt now, however if you pay towards the account, the SOL will be set from the beginning and collection attempts will be valid for the next 7 years. "
So if I understand... I have an account on my credit file that opened/placed on collections 12/2002, says it will be removed approx 01/2008. I contacted this company a few days ago as I advise I didn’t know what account this was, when told I advised yes I recall the account but was believed this account to have been paid off with my refinance 2 years ago. I advised I would research and notify them again. If I’m not able to pay this amount, will it still be removed after the 7 years?? And if so, can this company or someone else who may purchase this debt, place it on my credit again? Or does the Statue of limitation apply? Also, if I am able to pay, will it be on my account for 7 years from the date paid?
Please let me know..
(Florida)
Thank you
Welcome to the Forums :D If I understand you right the answer i
Welcome to the Forums :D If I understand you right the answer is yes, it will fall off your credit report after 7 years. But, they can sell it to a CA and they can try to collect. Just because it falls off, doesn't mean the debt itself will go away. If you are not sure if it was paid or not, send them a debt validation letter(the company you owe) and see if it is the one you paid. Good Luck, if I didn't understand your question, or misunderstood, please let me know..Karen
thanks for the info
Thank you , I will send them aletter to verify this debt. When i spoke to the gentelmen on the phone he was very nice. Thank god no harasement. Actually was willing to work with me.
Thank you again .!!